Dudley, DY2 7DJ | Investment Property for Sale | VES-DY2-001

Opportunity to purchase a 8-bed HMO in Dudley generating £35,256 rent pa and a gross yield of 8.8%

£400,000

HMO Detached House

VES-DY2-001

INITIAL INVESTMENT

£114,500

Based on

deposit: £100,000

stamp duty: £12,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£35,256

GROSS YIELD

8.8%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Freehold

8 bedrooms

4 bathrooms

1 reception room

2,107

Unfurnished

Property information

  • Spread over 2 floors
  • 8-bed HMO
  • 1 shared kitchen, fully fitted including 2 washing machines and 2 cookers
  • 1 basement
  • 1 disabled toilet
  • 2 bathrooms
  • Large garden, accessible via the rear fire escape on the ground floor
  • Each room is fitted with an Ampy meter which tenants top-up for electricity used
  • The property was built in 1877 and used to be the manse for the church next door
  • Many of the original architectural features remain
  • Tenants have been in situ for about 6 years on average and are happy to stay on
  • There is a bus stop right outside the property which is served by 7 bus routes going to Dudley, Wolverhampton and West Bromwich
  • EPC rating F - landlord is in process to implement the changes required to improve the rating to an E

Rental information

  • Room 1 - £360 pcm
  • Room 2 - £390 pcm
  • Room 3 - £346.66 pcm
  • Room 4 - £390 pcm
  • Room 5 - £411.66 pcm
  • Room 6 - £346.66 pcm
  • Room 7 - £346.66 pcm
  • Room 8 - £346.66 pcm

Total rent pcm: £2,938.33
Total rent pa: £35,260 + approximately £3,000 from electric Ampy meter sales

Property potential

  • The property comes with a very large garden, see the Google Earth picture. There is plenty of space to extend the property into it and still retain a large garden.
  • The landing on the first floor is a very good size to allow for stairs into the loft, where there is an estimated space for 2-3 studio rooms.
  • The basement is also a very good size and could be converted too.
  • Some of the rooms are very large and additional en-suites could be added, which would increase the gross rents.

There is plenty of potential to add extra value to this property and to increase the overall gross rental yield.

Please note that there are currently no planning applications pending for this property and that you will have to seek planning approval for any changes yourself.

Expert advice should be sought to gauge what exactly is required and the cost associated.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Dudley, West Midlands

Dudley is a large town in the county of West Midlands, 6 miles south-east of Wolverhampton and 10.5 miles north-west of Birmingham.

There are multiple travel options from this property and Tipton station is conveniently only a 20-minute walk away. This train station is served by West Midlands Railway and runs services between Wolverhampton and Walsall via Birmingham. During the week there are two services every hour that run in each direction. There are also bus links to the neighbouring towns of Tipton, Walsall, Wolverhampton, Birmingham, West Bromwich and many more. The closest bus stop being less than 100m from this property, making it very easy to travel around the surrounding region.

This area of the Black Country is very rich in cultural attractions that are in walking distance such as the Black Country living Museum, Dudley Castle and Dudley Zoological Gardens. Slightly further down the road from this property is Castlegate Business Park which offers a broad range of retail stores, restaurants and a cinema. There are further retail options in town via the Merry Hill Shopping Centre & Churchill Shopping Centre which are packed with options and is known as the commercial centre.

The town of Dudley has much to offer in terms of work opportunities with in the town, some of the biggest employers in the local area include Mitie, Interserve, the NHS, DMBC and Rentokil Initial. Dudley is fortunate to being only a short half an hour drive from Birmingham via the A457, and so this opens up many opportunities for potential commuters looking for jobs in the neighbouring town.

Dixons Green Road,

Dudley,

West Midlands,

England,

DY2 7DJ

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2020 Vesta Global Limited. All rights reserved.